How to use MakeHuman materials?
When exporting from Makehuman, I choose the ".dae" file format, and then import this into Blender

Upon importing into Blender, my scene looks like this:



I then switch to the "Material" view, which changes my model to a brighter shade of grey:



Next, I go to the "Materials" tab, and click "Use Nodes"



I then click the little dot to the right of the "Color" widget, and choose "Image Texture" from the drop down:



From the little drop down to the left of the "Open" button, I then choose the skin texture, since my currently selected mesh is the body mesh:



My mesh now looks like this:



I then select the eyes, which are part of a separate mesh, and repeat the above steps; click "Use Nodes", click to the right of "Color" and choose "Image Texture", click the drop down to the left of "Open" and choose the texture for the eyes.

Does this help at all? If you need to know how to create and assign custom materials within Blender, then I suggest you look at the following links:

[Blender Render]

http://www.katsbits.com/tutorials/blender/learning-materials-textures-images.php

[Cycles]

http://www.blenderguru.com/tutorials/introduction-to-cycles/

There's also cycles-specific and blender render-specific documentation here:

https://www.blender.org/manual/render/index.html